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Entrepreneurship – the Chinese way

As the cliché goes, you get what you pay for. Let me break this topic in two parts:

1. Entrepreneurs who pay less for more

2. Entrepreneurs like me, who sold myself cheap when my competitors are selling themselves cheaper.

If you remember the time when China came to India with a strategy of “buy all for Rs. 65”, then your life is…Are you expecting me to say AWESOME? No way! It just made all our minds into this confined cheap box where we believe that there is a possibility that an “aple iphone” will work as good as an Apple iPhone.

Just to be clear, I have nothing against China or the people. I just don’t like the way the copying happens with pretty much everything and it is sold as if it works like the original. But, the hard truth is, quality does not come cheap.

It has been two years that I started my software development company ‘YawA Technologies’, and I have come across dozens of clients who want to bring their ideas to life in a form of a website or a mobile application.

This is what I have understood, based on the holy trifecta of designers; there are 3 types of customers;

a. Clients who need a Good & Fast product = EXPENSIVE

b. Clients who need a Good & Cheap product = COMMON

c. Clients who need a Fast & Cheap product = INFERIOR

Let me simplify it for you:

If you fall under the Good + Fast category, then trust me, my team will starve or miss a few hours of sleep, just to make sure they put their blood and sweat in delivering your project in TIME and making sure it does not look CHEAP i.e. the ‘WoW!’ Factor.

If you fall under the Good + Cheap Category, then my team will do a great job by providing you with affordable ‘cheaper’ options of getting the project done with a fixed timeline. Everyone has some tips and tricks up their sleeves. But, the catch here is, clients do not get much option to customize and make their website unique.

If you fall under the Fast + Cheap category, then this is the least favorable choice, for everyone involved, because I would never sell my team cheap even if my other competitors are selling themselves cheaper and the value addition to the customer is negligible.

Here’s the fact, if I don’t believe in my team, then why would they believe in me or the vision of my firm. I encourage my team to always learn something new. And the only way they can practically implement those, is by making sure that I provide them with challenging projects which will prove their capabilities and make them realize their flaws.

I confess to have sold my team cheap during the initial days of starting this company. I am sure this is a common situation every entrepreneur deals with. The most appropriate word to define this is DESPERATION, but one must also realize, desperation should be a foundation in building your credibility. Never compromise on your credibility!

It kills me to know the amount of brilliant ideas that go down the sink because few entrepreneurs consider money as a defining factor to develop their website or mobile application. Don’t! Here’s why, software development is a saturated business, it is like a rat race and everyone wants to make it to the top. But you get to choose the partner of choice. Just be wise and understand the partner’s capabilities to bring your idea to life.

Here’s a question for you, if something you buy for $10 lasts twice as long as something you buy for $8, it seems pretty clear where you should put your money on. Or do you make decisions based purely on the price tag alone?

This is what I personally believe in, and I try and imbibe this in my organization. If you love your idea, and you are proud of it as well, you should worry about who shares the passion for idea, rather than saving money.